Wednesday 16 November 2022 03:23 AM The Trump Organization paid ex-CFO Allen Weisselberg's rent and other expenses ... trends now
Former U.S. President Donald Trump's namesake company saved hundreds of thousands of dollars by paying longtime executive Allen Weisselberg's rent and other personal expenses instead of increasing his salary, Weisselberg testified on Tuesday at the company's tax fraud trial.
Weisselberg, the Trump Organization's former chief financial officer, spoke about the savings during testimony as the prosecution's star witness. He said that Trump's company paid for him to move from Long Island to a spot closer to the Fifth Avenue building - and the company paid up to $7,000 for his rent.
The Trump Organization has pleaded not guilty to charges in 2021 by the Manhattan district attorney that it hid executive perks from tax authorities for over 15 years, and falsely reported bonuses as non-employee compensation.
Weisselberg pleaded guilty in August to avoiding taxes on $1.76 million in income and helping engineer tax fraud. His plea agreement requires him to testify in exchange for a five-month jail sentence.
Trump, a Republican, has not been charged, and has called the prosecution politically motivated. Alvin Bragg, the Manhattan district attorney, is a Democrat.
Ex-CFO of the Trump Organization, Allen Weisselberg, claimed that the former president's company paid his personal expenses to avoid hefty taxes on his $640k salary
Trump's company has not pleaded guilty to the charges by the Manhattan district attorney - who claimed the company hid perks to avoid taxation. Pictured: Trump at his Mar-a-Lago estate in Palm Beach
Weisselberg testified that the company paid for him to move nearby the company's Fifth Avenue headquarters from Long Island
During questioning by prosecutor Susan Hoffinger on Tuesday in a New York state court, Weisselberg testified that starting around 2005, the Trump Organization paid the $7,000 to $8,000 monthly rent on his Manhattan apartment, as well as his utilities, phone and parking garage bills.
Weisselberg, 75, testified the arrangement began after Trump suggested he live closer to the company's Fifth Avenue headquarters, rather than commute from his home in suburban Long Island.
'He said, 'Allen I think it's time you should consider moving into the city,'' Weisselberg said, adding that Trump also said it would 'help you, help the company.'
Weisselberg said rent and accompanying expenses grew to about $200,000 a year. He said if the Trump
